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tv   Markets Now  FOX Business  September 17, 2013 11:00am-1:01pm EDT

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dagen mcdowell. dagen: you missed pornography. [laughter] dagen: they lost that lawsuit. they have to pay their strippers minimum wage. this is news we are talking about. love you, stuart. thank you so much. the national average for gasoline has been above three dollars for 1000 days. it may very well stay there forever. for saatchi mansion sold moments ago. one of the bidders was, of course it was, donald trump. who did buy that man should? one of the more bizarre ad campaigns ever.
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agreeing to promote wet wipes for. all of that and more on this hour of "market now." ♪ connell: that is quite an ad campaign. let's go to nicole petallides and check-in on the market before we get too wet wipes and everything else. nicole: right now the dow jones industrials is off 38 points. the trend has been to the upside. the third week is starting with up arrows. we should note, we are waiting on the side. we will be in this wait and see mode.
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we are waiting to get news from apple and alcoa and cracker barrel, just to name a few. back to you. connell: thank you, nicole. dagen: today marks a milestone in the price of gasoline. it is a new trend that will, well, not make you happy. connell: joining us now is elizabeth macdonald. >> we have never seen this before. triple h is saying, watch out expect 1000 more days of gas above three dollars a gallon. three dollar counts and that two dollar gas you are talking about, history. gas below three dollars a gallon is sort of like talking about a track tapes and drive-in movies.
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you will see hawaii followed by california having the second highest in gas prices. the cheapest, south carolina followed by mississippi, alabama, virginia and tennessee. what we are seeing is, essentially, gas did hit four dollars average in may 2011. it has been above three dollars ever since december 2010. the average that families spend every year on gasoline is $2900. when you see that gas gauge hitting each, boy, that is for economic annoyance. back to you. dagen: we have come to deal with
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it so much better. we are coping with this, surprisingly well. >> we are coping with it surprisingly well. that is a great point that you make. yes, fuel economy. people are worried about the smaller cars. they are worried about safety issues. it will continue to go forward as we get into whether or not we will move into a six-year whether to approve the keystone pipeline. dagen: thank you, liz. you have gm working on a 200-mile electric car. thank you very much, elizabeth macdonald. high gasoline prices is not the only thing that americans have become used to.
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we are talking about high unemployment plaguing americans nationwide. will we fix it as a nation? joining us now is senior editor of fortune and fox news contributor. lawmakers in washington do not talk nearly enough. it has just been put on the back burner at the fact that we still have unemployment above 7%. here is the thing, that is absolutely right. there is also the long-term joblessness problem. we have millions of americans who have dropped out of the workforce. they are so discouraged. they are not even looking for a job anymore. developed nations like the u.s. face possible long-term
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unemployment even as an economic recovery takes hold. there is no focus. there is no sustained focus on really trying to do something about our jobs crisis. dagen: what will change that, nina? raise taxes, even a one-time tax, and in the government should spend that money to create jobs. >> that is right. then you get this gridlock. the president says what tax that $2 million that is sitting overseas. let's do a one-time tax and use mostly government programs to create jobs out of that.
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republicans, of course, want to reduce the corporate tax rate and bring a lot of that money home. i say let's go back and look at this idea that a lot of businesses support. that $2 trillion sitting overseas, if at least some of it was brought back here to invest, but you only get a tax break if you invest in jobs. say a tax that 5% instead of 35%. you would only get the tax break if you expanded your payroll by 5%. the ideas are out there. it takes leadership and a willingness to look past the partisanship. dagen: a focus on what the american people care about and not just what lawmakers care about. nina, thank you. please come back.
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connell: we have a new survey out. talking about 2.3% u.s. growth for the remainder of this year. this is an associated press survey out today. we are joined by scott wren. let's talk about the stock market. 15500 on the dow today. is this it? >> our target for the s&p 500 is 1650-1700. we are right there. i would argue that games for this year are in. if the fed says the right thing or does the right thing, tomorrow we could trade over that by a little bit. at the end of the year, i think we will be backed off a little
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bit. that does not mean people should be out of this market. we have obviously had a good run here. by the end of next year, you will see the s&p 500 at 1850. i think we have a good chance that more volatility. i think we will get more find opportunities over the next couple months as congress battles it out. connell: you have a couple things coming up. we will see where we go from here. what about, as we head into next, just buy across the board? are you betting on an economic recovery? >> yeah, connell, not at all. i think gdp in the u.s. will be maybe 2%. i completely agree with a sluggish economy.
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i have been saying modest growth, modest inflation. i think that is where we have been, that is where we will be. those are all sensitive to a continuation of this recovery. those are the kind of sectors you want to be in. i think you want to underweight or pay less attention to healthcare and utilities. people hide their. i do not think they will be hiding there over the next year and a half. connell: will the federal reserve drive the stock work it? >> i think the fed drives the economy. personally, all along, i thought it would be yelling. you want someone, in my opinion, flies under the radar, not too political, not too much baggage.
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i was a little surprised to see larry summers dropped out. if you look at both sides of the aisle, democrats and republicans, there are a lot of people against larry summers. they tie him to the financial deregulation that happened in the clinton years. right or wrong. connell: the trial ballooned and popped. thank you very much for coming on. i appreciate it. >> thank you, connell. dagen: sold. for saatchi mansion. donald trump was in on the bidding. did he get it? connell: we will show you some of the pictures of the cruise ship off the coast of tuscany.
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dagen: some very inexpensive tickets to hawaii. the price is incredible. when you look at the price of oil, as well, that is incredible. close to $106 a barrel. ♪ [ male announcer ] imagine this cute blob is metamucil.
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dagen: microsoft shareholder. hey, no cool. nicole: this is big news for microsoft shareholders. 33.08. it is of nearly one full percentage point. it will be $0.28 a share. also, a new buyback program on $40 billion. the other one that they are in the middle of his set to expire
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on september 30. connell: today we have off the coast of italy, the capsized cruised ship. here it is. they have been able to write the ship. taking nearly 19 hours to get it to the point it is at now. this is an engineering feat. it cost them something like $800 million. the captain of the ship currently facing manslaughter charges. dagen: anytime your spouse spouse tries to talk you into going on a cruise, you play that video of them pulling it out of
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the water. or just go to the west side and tape the people getting off of those ships. connell: we are a little biased. dagen: clogging up the west side highway every saturday. versace mansion and was speech sold for $41.5 million. ten bedrooms, 11 bathrooms, the starting bid was that $25 million. the sale price was lower than what many thought it would sell
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for. too bad for donald trump. the billionaire developer was sitting at the minimum amount of $25 million. connell: we had phil kenney down there. be careful who you google. there is a new report out. lily collins has replaced emma thompson as the most dangerous celebrity to search for online. people searching for the latest news on call and have a one in seven chance of landing on a website that contains malware, spam, those kinds of things.
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avril lavigne and sandra bullock also made the list. be careful who you google. you may get a virus, so to speak. chase stepping up its game to help out the victims in colorado. dagen: united online sale mistake. we will talk to one lucky flyer who will be flying to hawaii for cheap. first, take a look at currencies and how they are faring against the dollar today. ♪ [ male announcer ] sheets or bar? how do you get your bounce?
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♪ >> 23 minutes past the hour. i am patty ann browne with your fox news minute. authorities are learning more about the man who opened fire at the washington, d.c. navy yard killing 12 people. law enforcement officials told the associated press that alexis suffered from mental issues. since august, he had been treated by the veterans administration. search efforts and damage
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estimates continue and colorado. the videogame grand theft auto five hit store shelves today. the latest entry in the criminal drama series expected to be one of the years top sellers. those are your news headlines on the fox business network. back to dragon and connell. connell: thank you. dagen: it is time to, yeah, that is right. make some money with charles payne. charles: i think i have earned that.
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i am here to talk about coffee again. green mountain roasters. the company has done a terrific job. they will have their first cure rigged store. you have all of the varieties. dagen: it is slightly different type knowledge he. charles: you have your own individual packaging and beverage. it may be the right kind of segue for a company like this.
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i do not think starbucks is shaking in their boots. it is another sign. very impressive management. i happen to like it. dagen: and there are different applications. it is not just coffee. charles: soups, tease, cocoa. technically, i like to see it above. i think the next leg will be 100. connell: you have been hammering this. charles: we have traded it a few times. it has not been unheard of for this stock to make a 20% move at one time.
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connell: i have one of those machines in my house. absolutely. dagen: i actually went into the kitchen over the weekend and looked up at the ceiling and was wondering what it was. it apparently was a coffee accident. connell: i love these stories. [laughter] connell: charles payne, well done. dagen: facebook takes it to twitter on a primetime battle. connell: it is one of the more bizarre ad campaigns that you will ever see. for nfl centers, lineman, will promote wet wipes for men. [laughter] dagen: are they and wet wipes or
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for your backside? charles: that is crazy. dagen: we will be right back on markets now. ♪
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that is a dennis o'neil story coming up. some nfl linemen have agreed to do an ad campaign that will, if nothing else, get your attention. dagen: at the new iphone being launched on friday. nicole: september 20 is when you will be able to purchase the new iphones. the iphone 5s and the iphone tries -- iphone 5c. the stock is a lather this year. it is down 14%. i was talking to jason weissberg who has been a long-term shareholder. he wants to see more innovation from the company. he says the new phones are not game changers.
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where is the watch? where is that apple watch that everyone is waiting for? or the television. that stock is nowhere near $700. back to you. connell: thank you very much. a big week for the fed. larry summers taking his name out. many people think janet yellen is now a shoe in. our next guest says no. john brown is here to talk about it. always willing to speak his mind. if you are not poor janet yellen, who are you for? >> i do not know. it is an absolute wide open gas i think obama is very embarrassed over syria.
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if larry summers was his real candidate, he would be smarting over that. i think he would be slightly bristling at janet yellen being chosen over the media and by certain democratic politicians that may have deserted him over syria. stuart: three are you saying what you want to see happen? we showed donald: there a moment ago. are you saying who you would like to see when you say no not yellin somebody else? >> no. i think obama, with his massive
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turnover, there will be at least five out of seven retiring. if janet yellen is not selected, she probably will be retiring. progressives. socialists. connell: that word kind of gets thrown around. you are saying that for a fact. you are worried about something. >> margaret thatcher, i served under her for about 13 years. socialism is great until you run out of other people's money. we have a private company with no audit, no taxation. a complete monopoly.
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what better thing could you have for socialism than this? it is a piggyback for the government and many other governments. it was not just for effect. most of these people are going to follow the same sort of lines as greenspan who politicize the fed and bernanke whose party politicized the fed. connell: propping up and all of that kind of thing. more of the same thing, basically, is what it sounds like. >> yes. i would like to see more in the local or remote. connell: it is always good to see you. we have to go. thank you.
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dagen: celebrities were getting down and strutting their stuff on "dancing with the stars." dennis: facebook taking twitter's turf. last night was facebook's first ever fourier in the prime time. it is a match made in heaven on the show. the facebook page has something like 4.2 billion likes. twitter handles the boys, it handles news shows. facebook does not do anything small. there are signs that this is a big invasion.
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applications, programming, interface. designed details. letting these guys tap into the feed. they began distributing those tools. already starting to show up on some news programs. and let them do far more than what twitter does. facebook would let people figure out how the comments are trending and what they think of the dancers by gender, age, sex, region. watch out, facebook is coming for you. dagen: you know what, this is a savings show. you would think that facebook would try to attach itself to a show that is still doing really well. dennis: why not parachute into a
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forest fire and fix something that is hurting rather than go to a super success that does not need you. dagen: thank you, dennis. connell: good stuff. thanks. some big winners for some united passengers. they got to take advantage of an online mistake. we will talk about it coming up. the nfl linemen. these nfl linemen signing up for a unique ad campaign. it is already making some noise. that story, like it or not, is coming up. let's take a look at the treasuries. ♪ a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer,
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dagen: does it not feel good when you can stick it to and airline? united airlines will honor the airline ticket accidentally sold online. coming up, we have george hamlin. how in the heck did you wind up scoring these?
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>> one of my colleagues had gotten a text from her boyfriend. he said check online at united. there are all of these cheap fares. we have a congress every year out in las vegas. i immediately saw if i could get tickets for that. i then decided to push the envelope and see if i could get some kind of a pleasure trip. my wife and i have been wanting to get away for thanksgiving this year. we found a trip to hawaii. the tickets were free. we were going to hawaii for two weeks for $20 round-trip. dagen: i would have not said anything to anybody. did united follow-up and tell
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you they know the fares are abnormally low, but we will honor them. >> i saw the press release that came out friday afternoon saying they would honor them. shortly after that, i got my tickets confirmed and sent to me. i was able to choose the seeds for the flight. dagen: do you think that this will make you fly united more? you will score some points with the two tickets you bought to hawaii, for sure. >> i have flown united quite a bit in the past. we are frequent fliers on united. certainly, we are very excited about the free tickets. we are looking forward to flying some more. dagen: thank you very much. enjoy that trip. enjoy and buy your wife something nice for the holidays
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because the tickets were so cheap. thank you very much. george, how in the world could united let this happen? it just seems like an unsinkable clerk should. >> i think that united is doing the right thing in honoring them. let the people who program your operational software, which keeps the airplanes flying safely, obviously you need to bring in that power to bring changes as well. the job can get done. dagen: how often does this happen? do we have any way of knowing how many of these cheap fares
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were sold? how often does this happen to other airlines? >> this has happened -- there are a lot of expectations that people have. now there are often add-ons to those. sometimes you can get very low fares. dagen: don't you think they should have immediately said we will honor these. the following day, they announced that they would honor them. there was no way around it. >> i will have to give them kudos for actually doing it. i think you are right, it would have been better if it would
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have been done sooner. at the end of the day, they will keep their word. dagen: thank you very much. would love to talk to you again soon. connell: another wall street firm issuing polish stocks. >> a lot of traders will get calls like this. as long as wall street is on board, maybe we will take the contrarian. they are calling for quite a substantial rally. they are putting this on better earnings. to first stock.
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currently measures. they are also saying that higher consumer confidence will aid the stock market. it is one thing that could actually slow the rally. they also said they believe those intentions will take away from gold. stock will outperform precious metals in the new year. by the way, if you are looking for a straight line up, not the case. it will be a very volatile approach. there will be lots of ups and downs. the discussion over the debt ceiling will play a part in all of that. if you miss the rally leading up to this point, maybe they are making you not feel so bad. back to you. connell: thank you very much,
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sandra. dagen: some nfl linemen. connell: we will have that coming up. first, a look at some of the nasdaq winners today. you will see what dagen means coming up. ♪ [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense of investing. face time and think time make a difference. this man is about to be the millionth customer. would you mind if i go ahead of you? instead we had someone go ahead of him and win fiy thousand dollars.
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connell: some business stories related to football. you will have to get into a new york state of mind. at this point, the nfl is close to approving a plan that would more than double the price.
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they have likely cost $2600 each. that is up from 1254 the same level in new orleans for lasher's game. if you go back, there were tickets available for the bargain price of $325. obviously, up from there. boy, that is a bot. dagen: i hope the weather is like winding snow with icicles hanging off your nose. maybe a mix of snow and rain.
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connell: we have to talk about the linemen. dagen: signing on to help the dollar shave club. manly moist wipes. that is right. you are looking at one of the ads here. that is awesome. likely talking about ten grand a piece. that will make quarterbacks around the league ecstatic. connell: would you not rather have no attention span doing this? dagen: aloe vera and chamomile. you know who else will love
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this? the ladies. connell: why? dagen: maybe i should not have said that. [laughter] dagen: if you are fresh, you are feeling good. you are a better companion. [laughter] connell: has microsoft finally gotten it right? a lot of people think apple kind of blew it with the last launch they had. dagen: he has been the rolling stones keyboard player for 30 years. coming up with a novel way to get people to his website. he will join dennis and cheryl coming up. ♪
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nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge.
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that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. she took an early spring break thanks to her double miles from the capital one venture card. now what was mrs. davis teaching? spelling. that's not a subject, right? i mean, spell check. that's a program. algebra. okay. persons a and b are flying to the bahamas. how fast will they get there? don't you need distance, rate and... no, all it takes is double miles. [ all ] whoa. yeah. [ male announcer ] get away fast with unlimited double miles from the capital one venture card. you're the world's best teacher. this is so unexpected. what's in your wallet?
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. dennis: hmmm dennis kneale. of fickle world of tech stocks, microsoft finally gotten it right at a time when many think apple blew its latest product launch, the panel coming that you got to hear it. shares a good news if you are invested in oil company stocks but that if you are driving which as most of the gasoline prices high and by $3 a gallon for the thousandth straight the investment paula for you, we got it. dennis: he played keyboard for if your years for the rolling stones and now has a novel ways to get people to his newest web site. period creator of mother nature network joining us on this hour of markets now. cheryl: top of the hour, we do this every 15 minutes, nicole petallides on the floor of the new york stock exchange, the big story is microsoft.
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nicole: absolutely right. at the exchange, let's take a look up 45 points. these are the highs today, we is in narrow trading range, not even if the points and that does one thing, everyone is leaving on the fed and if you are an avid investor you know everybody waits on the fed. in the meantime there are stories fact that we will continue to follow but it is agreed peer looking at a teacher averages, 20% of, we don't have much action one way or the other but it was a great year. microsoft, let's hit it, 90% of great performers today, boots in dividend by 20%. and 3303, that will pass a out $0.20 a share payable on december 12th by the 20 first of november. and polk a the buyback of
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$40 billion so the new share repurchase program takes over, one is expiring sept. 30th. dennis: as microsoft finally done something right at a time when that many people think apple has blown the launch of the iphone. let's check the senior catalyst from boston, martin fellow, why don't we start with you, $40 billion stock buyback sounds like such a great move. what do you think? >> i think microsoft has been buying back shares and boosting its dividend for a long time but i don't think it is a sign of strikes. and i have been talking to people close to the company and the word is people inside are unsettled. that comes up, they don't know what is going on with some much
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change in so many -- a historic turning point. dennis: what do you said? >> they typically increase in september, 15% increase, this year 22% increase. the yield of the company's run 4%. a little better than the apple deal but less than you would get. and we are seeing the pop in a stock that is stated. i will worry what comes thursday when the old investors day and could they reset expectations lower? chris make you think the big dividend increase is a of a disappointment thursday? >> i don't know how disappointing it will be but it is a much bigger story that we are seeing one of the generational shift in technology. we saw it when the pc was
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assented and digital equipment fade away. we are now seeing the kings of the last pc era, dell and microsoft and hp going into their fade and that is the overarching story. this sad story of microsoft unable to find its way in the new post pc world. dennis: microsoft missed out on every major friend, even years before that it was always able to get it right eventually. was in the first to do a windows the graphical interface but got it right eventually. seems the market is moving so fast that something be sent goes away before they get a chance to get it right. >> we have to be careful saying that because microsoft love to climb back from behind, sort of a tough story of you are microsoft invested but let's think of some reason things, search engines live-in millions of dollars a reporter but searches are two horse race, google and being. the need to get into smart phones, they have done a good
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job, the of the third spot and some markets are even number 2. they need to be in smart phones, pc markets have flat line, they are shrinking but there is a chance -- >> a violent to be the next c e l of microsoft july appreciate that they decided to do an $8 billion buyout of nokia, a dead brendan the smart phone market? appreciate it they committed $40 billion stock buybacks? >> steve ballmer setting up his successor for a lot of problems. i think a nokia deal with the disaster, taking two boat anchors and tying them together and calling it a sailboat. it is a cute mistake. nokia is not doing well and whoever comes in after steve ballmer will have a really tough time and person to deeper going on inside there. some rift between bill gates and steve ballmer. it is not value pushing for
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this, but so strange they did this, put him more in control, and resign, there is real internally in the company. dennis: we all hate change but then lions just called the nokia deal attacking but increasingly deron, a sailboat. i thought microsoft should buy blackberry instead. >> two with to look at it. clearly there struggling but microsoft needs to be in smart phones. this is an acquisition using offshore-so it is a tax-free transaction and relatively inexpensive in terms of total cash position so the need to get involved. this is the weather to have the most important harbor partner, committed to their platforms so it will be a troubled company for the next couple quarters but they may be able to turn around. >> every time in the past but this is a sensitive moment. thanks for being with us. thanks for being here.
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cheryl: robust growth out of reach for the united states. this is according to the latest a people of economists who say growth for the rest of this year and the united states will only increase 2.3% and rise only 0.3% higher next year. kevin koran and kimberly voss both he and al. to you first, looking at the latest data you have concerns about the economy especially when it comes in the face of rising rates. isn't that volatility? an opportunity? >> i do think there is opportunity with rising rates but in that market you got to be in those sectors to get the reward of that and globally speaking a trifecta of worry here when we have europe with high interest and unemployment, u.s. down the consumer side of
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spending and globally, nations like europe and japan emerging-market, but heavily with that, we got some head wind at a bus but that is not to say there is not opportunity that comes with those difficulties in the market. >> kevin, on the same notion of the mackenzie peer survey that comes the day before we are said to hear from the fed tomorrow it is all about capering but also the fed is expected to tell us they will tell us growth is slowing down. how concerned are you about that? >> not really. when you step back and look at it we grew around 4.5% real terms, in the 70s and 80s load down 3%, follow the trend down line, it was 2% so this is a bigger economy added different
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phase of our development, more mature economy, pockets of growth, emerging-market stock, tremendous areas of growth, think about brazil, the emerging consumer class, more borrowing, capacity for people to borrow, i think we are at a different phase in our development, 2% when we think about it. cheryl: you don't think 2 presenters and that bad? i don't mean to insult you. we need 3% or 4%. we are just not growing. >> if you have 2% growth that is it, that will be more or less the fed's expectation. that is real growth. that is the stuff you see in your life and if you have a population growing at 1/2%, the
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expectations going forward and you have a very sizeable amount of growth over a person's life, a baby born today can expect to see the average consumption double or triple by the end of the light. >> that is a long-term strategy. you are focusing on your clients in particular, the 45 to 60-year-old a group, pulling them away from bonds, worry about volatility, but where are you telling them to put their money right now? >> you have to be an diversified portfolio, globally diversified, 44 countries, 12,000 different stocks. >> 2% growth in the united states, guessing right now since the u.s. has been going on. >> big to differ with them, 1976 to 2007 we had a 3.2% growth rate and 2% doesn't match up so
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we have to make sure -- cheryl: kevin? >> that is not inconsistent with what i said. overall longer time span you will see that the economy has grown from an agrarian economy to a manufacturing economy to a more mature economy, it is harder to generate growth given the size of the economy so it has come down and the growth rate today should be lower than it was 20 or 30 or 40 years ago. cheryl: what do you take on that? >> agreed and to what you need to do to capture the inventors of the market so you can eat out as much in command growth as consumers need in order to sustain the portfolio from now until monday because we are all living--and we need more income and we need more capital to preserve so we can live longer and have a sustainable life
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style. different dimensions of a market mean large cap, small-cap and profitability factor as well. i agree with what you are saying, the growth to me is from one to three or seven years and we will be back toward growth-oriented market. >> clients want their returns now and are getting impatient and i absolutely understand that. kimberly, you do like chevron coming up in a few moments. thank you very much. what is bugging me. that $800 million fine the government is expected to impose on jpmorgan chase. government piling on by throwing a jet walker in jail after he has been hit by a car while crossing the street. $800 million and for what? jpmorgan lost $6 million on reckless trade by gambler known as the london whale. i am thinking that is punishment
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enough. like most government fines this ball won't go to any victims of jpmorgan's misdeeds. the victims of this screw up word-shareholders of jpmorgan and the feds are rubbing salt in the open wound and shaking them down for more. jpmorgan is one of the good guys, avoids synthetic cbos the girl rivals and in the mill down by two teetering banks at government request and now the target of seven separate government probes. it doesn't make sense unless the main purpose is to slap the face of a financial giant and humiliated ceo. that is it. slapper around jamie dimon who criticized government overreach so tweet me. is the government assault on jpmorgan going too far? you know the right answer to that. cheryl: i was afraid to answer. despite increasing morgan's cost home builder confidence near its highest level in eight years,
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exclusive interview with jerry bauer coming the. dennis: when business travelers are returning to the road prices of gasoline are heading higher, results of the new survey ahead. let's look at energy. ♪
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cheryl: something little different. on want to get to chevron and show you chevron, one of the stock we really like, gasoline prices going up and looking at a company like chevron, obviously the higher oil prices go the better stocks perform, here's a 1-year chart, nicole petallides look at the last three years. the tank is not peer at the gas pump. and maybe to buy stock and that will take the pen out of your coin. and the london whales side. >> we continue to follow the
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jpmorgan story. focusing on it very closely. as we continue to move forward, london whales, still on schedule, limited to four regulatory agencies. and the u.s. justice department as well as commodity futures trading commission, pursuing their own half as they look into and probe trading is that we noted earlier, did cost the bank $6 billion but that is something we focus on and jamie dimon sent a letter to his folks, thousands of people on risk and compliance and got to roll up your sleeves and fix whatever problems you see and don't ignore them and continue to be transparent. cheryl: and -- dennis: charles payne is talking rockets with orbital sciences.
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charles: they are going to send a cargo space ship out tomorrow to the international space station. it is a big deal for them. the test flight but they will begin after that regularly scheduled flights with the space station, astronauts, one american, a woman. the big news is they will bring chocolate for her. her husband could together a care package. on this particular flight there are a lot of things they can't kick. it is the so-called test. for this company is opening up a whole new avenue of things, do a lot of business on satellites. the launch business is huge. last quarter was the best growth they saw, missiles and defense systems. actually breaking out right now all. dennis: that has to be a $30 billion box office. this seems people who dream about going into space is it truly a profitable business venture? charles: sure. nasa has given this up to private enterprise.
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orbital sciences and spacex showing private industry can do it cheaper than the government has done it over 30 or 40 years. so far so good. they do the launch business, the satellite business, the stock to use traditional valuation. this is going to be a grand slam. cheryl: return space travel into a business like richard branson. charles: think about that. of course you have to bring the price down from one million dollars. dennis: charles payne. should make you would do it? dennis: heck no. cheryl: i would love to travel to space. dennis: no need to take on extra risk. just bungee-jump. gerri: washington navy yard is shut down today investigators looking for a possible motive for the shooting that left 13 people dead. we will have a live report for you.
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dennis: what is bugging me seems to be bugging some of you. eddie hundred million dollar fine and jpmorgan chase, the government assault on jpmorgan going too far? tweet me. your answers coming up shortly. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. life's an adventure when you're with her.and i. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily use
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cheryl: and the secretary ordering reviews from marine installations following the shooting that left -- that includes the suspected gunman. peter is live from the washington navy yard from d.c. with the latest from there. >> we just found out in the last few minutes that federal law enforcement officials believe it is said d.c. metro police officer, and plenty of agents and officers on the scene, they did not pull the trigger or shoot them, and the officer responding is the one who shot him. and authorities, the authority tow the car that aaron alexis drove to the office to commit massacres, it was a blue sedan, with new york tax covered in what looks like a fingerprint
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powder on the car doors and on a car door handle. we saw authorities searching the room, and other investigators looking for is footprint, and he got on the ground of the washington media are, and and allowed him to buy as any kind of search including a metal detector. all he had to do was show the card. didn't even have to sweat it and aaron alexis had multiple weapons on in during yesterday's assault and he got one of his firearms off of an officer, he
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had just gunned down. >> used and then of somebody, law enforcement officials, and that is continuing to unfold to see what he had -- >> the associated press reporting that aaron alexis is treated in he heard voices. cheryl: thank you so much, peter. dennis: colorado flood victims getting a breather of sorts on credit card mortgage payments from supposedly evil bank checks. the bank sending e-mails to 600,000 colorado customers to an affected by the floods. a few extra days before the face fees for insufficient funds or late payments on mortgages or credit card after the death toll
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rises to eight people with hundreds still missing in the affected areas. cheryl: after nearly two years partially submerged, the capsulized cruise liner has been righted, it took solvent cruise 19 hours to get into this point and cost over $800 million. and it capsized off the coast of italy in january of 2012 killing 32 people. the ship's capt. is fixing manslaughter charges. the ship is owned by carnival's italian -- here is the stock at $37.59. dennis: stunned the elected live for that long. cheryl: especially with of an environmental concerns. this is a tough turn but i will do it anyway. the all-star showdown. semifinals are coming up. oliver porche is back, jim frischling for the best stock picker in the land that got more reputation's on the line, these are based out of new york and
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finally a dinner we can go film, loser pays, take a listen. >> oliver porche for round 2 of the all-star showdown and look forward to lying down the lawford jim frischling this friday. i am confident i will beat him, we have a side bet for dinner and drinks at duke's. >> looking forward to the second round, the all-star challenge. and continue at the end of the meal. cheryl: that is the tab. this is all going to play a out. the fox business all-star showdown at noon eastern time. dennis: if you invest in oil stocks, bad if you drive. gasoline prices over $3 a gallon for the 1000th street day. more on that. cheryl: does the increase in mortgage costs, home builder confidence is building at its highest level in eight years. coming up we have got an exclusive interview with and a cage be c e l at the museum in d.c.. um... where's mrs. davis?
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nicole: i am nicole petallides on the floor of the stock exchange. >> caller: minutes on the fox business network we talk about the market that hot stocks to watch. great day on wall street, the dallas 30 points, and the retailer arrow postal is gaining attention. it is soaring 20%, $10.20 a share. this is sycamore partners, and 8% stake, and an attractive investment media tracking with the board to see what the plans are for the company has set strategies, business future plans, other issues, i am thinking this stock is soaring.
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3d systems, the analysts, stock is reflecting that, it was the 5%. mosaic and potash to the downside over 1%, and pandora, and it is worth noting, new hyde of. dennis: if you invest in it or bad when you use it, gases above $3 a gallon for 1,000 days straight and joining us is liz macdonald and fox business contributor phil flynn at the cme. liz: nothing touches drivers like the price of gasoline, thousand days of gas above $3 a gallon. i'd tell you something of a aaa is saying expect 1,000 more days of gas above $3 a check this quote from the c e l of aaa essentially gas below $3 is history, sort of like talking
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about a track tapes and also drive-in movies and you want to know where the best and worst dates for gas are? the highest is why followed by california, alaska, connecticut, the cheapest you finds out carolina, mississippi, alabama, virginia and tennessee. dennis: phil flynn, why is that gasoline prices will rise? producing more of our own oil in decades. >> a lot has been fed policy, global demand, i have the exact opposite view than aaa, i say that you're of high gasoline prices is coming to an end. because the u.s. is going to be energy independence, because we are going to be a net exporter of product and we are going to right now produce our own gasoline, prices will be lower. what is more just like the 8 track tape and these older thing these gas guzzlers are going to go the way of the track takes.
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we will be changing our energy, driving natural-gas. liz: why is gas stubbornly above $3.56 for the majority of those thousand days? we have a small number of refineries, we also have the keystone pipeline delayed yet again. we are in the fifth year of the non approval of keystone. talk about supply issues i don't know why gas is the new normal above $3 a gallon. >> we fix the lottery refineries, producing more gas than we ever have, prices coming down. >> i like your forecast better. thanks, liz macdonald and phil flynn. and he has played keyboard for 30 years with a 70-year-old rolling stone and he has come of with a novel way to do is web site, the creator of mother nature network, joining us
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coming up. dennis: cheryl: congress, think the situation. the company will now of the molasses is doing, it is a big fitness story. coming up. [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side.
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>> consumer prices, the cost of energy fell, and increased by 1
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tenth%, the restaurant for a rise of 2.1%. and foresee the weakest holiday sales since 2009. and forecasting a rise to 2.4% in november and december sales and in 2011 and china will become starbucks had second-biggest market by the end of this year. and canada is the number 2 spot. and 4,000 locations across china and the asia-pacific region. the latest in a fox business network giving you the power to prosper.
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nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. dennis: the know what it is like to play that song? our next guest has played
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keyboard with everyone but the rolling stones to eric clapton. now all chuck has come of with the interestingly to get people to visit the website he co created, mothernaturenetwork. when they click on news stories points can be redeemed for making charitable contributions to environmental causes. joining us is the president's of am n n. and newspapers and magazines could start a their readers to read their stories online and wouldn't go out of business as much. than the going well, first quarter you had 125% increase in visitors to the site. tell us how this incentive works. >> i will let matt address that. we are 4 years old now. my partner and myself launch this in january of 2009 and since that time at the top of the list, our most visited
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environmental science in the world, very proud of that, getting between 8 and ten million uniques month. dennis: call this do-gooder green stuff. >> it is not strictly about the environment. we cover all kind of environmental issues and news of information, but it goes beyond that into social responsibility, social responsible living so to speak. we are broadening. one of our sponsors is at&t. they have a don't text and drive campaign. has nothing to do with the environment. having to do with responsible living. dennis: the public at campaign flapping a bunch of new laws that may not be easy to enforce. let's zoom up on the latest click to get some extra points. >> great question. we found people want to do good and people visiting our site have that in mind whether it is
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the environment or reading about other topics, users what in and make it easy to trade how much content they are reading, that we use to give back to charitable organizations. dennis: ira double lot of points. and you guys contribute your money to that charity. >> that is correct that our revenue model is built around sponsors, audio online advertising model we have money coming coin. dennis: i smell a scam here. and $10 to contribute. >> you won't become the next build sheets but we try to make it worth -- something we have been testing out and we have a positive response. and we need to find the sweet spot. dennis: the rise of values based
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marketing is based on consumers and companies. is it sundown side, we don't have to, i am clicking on this or giving it cuts. >> of people are free to contribute to whatever causes for whatever is our import to them. this is a way to engage them, intrigues them to do the content we have on the site. and an extra profit motive, and to do online sites. and matt crenshaw, good luck, thank you.
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cheryl: time for stocks, and and 1700 of fed talk and that is tomorrow, and we're making it tomorrow. >> that is now we have come to expect and 14 days, and that is over 700 points to the dow jones industrial average, it is down 1%, and some nonchalance, everyone expected the $15 billion cut, but if we don't do that, and in the market peaked and fell, and following the february, april and may minutes old law. there has been a lot of volatility and difficulty in the fed and communicating its message and the mark and understanding what it means. cheryl: this is it. we are speculating about the bring, if it was $5 billion, you
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think the market would react in a positive way or negative way? >> i don't think there would be any reaction. it is $5 billion to $10 billion, that is not a meaningful enough cut, the market does a whole lot of anything the market would be shocked and i am no economist of the people i speak with that seems to be what is baked into the market. the time table, we have a timetable -- cut it in one year or so in that is a shot. cheryl: thank you so much. speaking of the markets, homebuilder confidence in september holding steady near a eight year high according to the latest report from the national association of home builders, the organization hosting discussions to the future of the housing market with members of congress and industry leaders that washington museum and that is where we begin in the exceed -- an exclusive interview with jerry, the c e o.
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talk about the index. you didn't fall. is that a good thing? >> if you look at the only negative component of the index the reality is the six month expectations are down a little bit, we think they are down a little bit because of the subject we are discussing today. we are talking about the future of the housing finance system in the future of tax reform, availability of credit and that is why we are holding steady and not going up any higher. cheryl: what are senators or congress men saying about the fed or interest rates, mortgage interest rates have been going up, that is something the builders -- becoming a problem for them. have you had meaningful discussions over that issue? >> we are having discussions, part of the reason we are impressing upon policymakers and banking regulators, uncertainty driving interest rates. the financial sector doesn't
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know what the game is, and consumer at the end of the pipeline, and just as importantly, this uncertainty is what is holding us, and in the housing sector. >> what do they say about regulation, more attacks on the banks, this does not make the bank want to lend to a future homebuyers if they are constantly getting attacked by washington. has that come up? >> it has come up time and time again, not only that there are regulations but proposed regulations that haven't been issued yet so no one knows if there are going to be overregulated or in which direction they will be overregulated. the time has come for these regulations to be debated, issued an for the future of the housing finance system to be underway. is a travesty at this point. cheryl: jerry howard coming from the museum in washington, an interesting date for you and
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home builders as well. thank you very much. dennis: in the media minute watch out, twitter, facebook is aiming at you. twitter has been a darling of television that facebook is invading twitter at turf. last night marked the first ever appearance in prime-time, as dancing with the stars carried live on screen comments from facebook viewers, 4.2 million likes on its facebook page, 1,000 people chatting about the show and twitter has a starring role on nbc's glove police. facebook doesn't do anything lately. this could be the start of a major assault. this month releasing a set of programming tools making it easy for tv networks to tap into live facebook feet. identify common trends by gender, age, sex, religion, twitter can't do that. breaking bad is very good.
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monday night's episode, one of the last episode in the five year run, drew 6.4 million viewers nielsen said. record high for the show. elsewhere, what is bugging me, that $800 million fine expected jpmorgan chase, the government assault on jpmorgan going too far. your last chance to sweep me your answer. we will read some of them coming up.
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cheryl: time for your west coast minute, southern california edison has agreed to the $120 million to the federal government to settle a lawsuit against the company after a 2007 wildfire burned 1,050 acres of sequoia national forest. when the government alleged the
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utility was negligent operationally in a fire it is and never admitted wrongdoing. navigation co. containers filled 1400 tons of molasses in the honolulu harbor, had to patrol damages and cleanup costs related to the september 9th accident. officials have collected 25,000 dead fish and other animals in the area. the environmental disaster will take weeks to clean up. britney spears is on her way to vegas. reported $30 million deal between britney spears and plan that hollywood will have her performing in sin city over a two year time frame and announce 16 additional this year with 50 shows total in 2014, 2015. and spears will make $15 million annually that is all you need. that is a west coast minute. dennis: britney is back. it is bugging me the $800 million fine expected
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jpmorgan chase so my question is is the government going too far in its assault? you ask, we wait in. rick says it is a witch hunt. chase did the country and worldwide huge favor when agreeing to buy bear stearns in 2008 but energy frederick author says they get punished for gambling with government guarantee deposits, the government backstops the fdic, there for a fine is warranted and peter says punish jpmorgan for losing their own money? that punishment, take more of their money and finally sean adams says let them felt five years ago and give jamie dimon and crew 30 year sentences little lot of anger still left. >> forget the clout and technology companies making the future easier. a lot of lessons to be learned when it comes to money from the past that low-fat and your portfolio. dennis: adam and lori get historic advice from thomas
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cheryl: good afternoon. adam: good afternoon. it is pic of time. we are going to talk fed. how the market will react. lori: washington's ability to respond to another financial crisis, should one happen. adam: recordbreaker. gasoline prices have been over three dollars for 1000 days. time to check stocks. we do that every 15 minutes. nicole petallides.
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nicole: hey, adam and lori. nice to see you guys. we are watching a market that is pretty volatile. of course, when you talk to traders, they are very focused on what we will hear from the fed over the next few hours. 15,549. yesterday we were up 118 points. do not forget, we have had two weeks of gains. the moment of remains to the upside. who will be the next fathead is a very key thing. another thing we have been watching very closely is a ten year bond. just reading a note talking about the fact that the rally has been somewhat leisurely. we have had a ten year

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